SGA Exits Position in Intuit Amid Concerns Over TurboTax and Mailchimp Performance
Sustainable Growth Advisers (SGA) sold its position in Intuit Inc. (NASDAQ:INTU) during the second quarter of 2026, citing concerns over weakening performance in its DIY Tax segment and continued struggles at Mailchimp. In its investor letter for the Global Growth Strategy, SGA noted that despite a modest revenue beat by Intuit, results were overshadowed by weaker-than-expected consumer tax growth. TurboTax revenue grew 7%, below guidance, with particular weakness among lower-income filers and a contraction in IRS filings. Although Intuit reported double-digit revenue growth and margin expansion above 40%, SGA expressed reduced confidence in the company's ability to accelerate growth or execute effectively under challenging conditions. The firm reallocated capital from Intuit into Arista Networks.
Tickers: $INTU